Penobscot Investment Management Company Inc. Trims Stake in NIKE, Inc. (NYSE:NKE)

Penobscot Investment Management Company Inc. lowered its stake in NIKE, Inc. (NYSE:NKE) by 15.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 44,328 shares of the footwear maker’s stock after selling 8,155 shares during the period. Penobscot Investment Management Company Inc.’s holdings in NIKE were worth $4,813,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brookstone Capital Management lifted its stake in shares of NIKE by 257.8% during the 3rd quarter. Brookstone Capital Management now owns 52,666 shares of the footwear maker’s stock worth $5,427,000 after purchasing an additional 37,946 shares during the period. RMR Wealth Builders lifted its stake in shares of NIKE by 139.4% during the 3rd quarter. RMR Wealth Builders now owns 8,420 shares of the footwear maker’s stock worth $805,000 after purchasing an additional 4,903 shares during the period. Suncoast Equity Management lifted its stake in shares of NIKE by 2.6% during the 3rd quarter. Suncoast Equity Management now owns 165,020 shares of the footwear maker’s stock worth $15,779,000 after purchasing an additional 4,233 shares during the period. Accurate Wealth Management LLC lifted its stake in shares of NIKE by 2.9% during the 3rd quarter. Accurate Wealth Management LLC now owns 5,476 shares of the footwear maker’s stock worth $563,000 after purchasing an additional 153 shares during the period. Finally, Vicus Capital purchased a new position in shares of NIKE during the 3rd quarter worth $403,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 1.0 %

NYSE:NKE traded down $0.98 during mid-day trading on Tuesday, reaching $93.08. The stock had a trading volume of 2,202,456 shares, compared to its average volume of 9,287,486. The company has a market capitalization of $140.49 billion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68. The stock’s 50 day simple moving average is $96.78 and its two-hundred day simple moving average is $103.33. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Equities analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.59%. NIKE’s dividend payout ratio (DPR) is 43.53%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NKE. Morgan Stanley reduced their price target on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 27th. Barclays cut their target price on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Wells Fargo & Company cut their target price on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Citigroup cut their target price on NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, March 14th. Finally, The Goldman Sachs Group cut their target price on NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.